The global ceiling tiles market was worth USD 790 billion in 2020 and is estimated to reach USD 10.88 billion by 2025 at a compound annual growth rate (CAGR) of around 6.2% during the forecast period. The global ceiling tiles market is estimated to progress at a fast pace owing to the rising call from the construction segment. Roof tiles play a significant role in enhancing the acoustics of a building and enhancing its thermal insulation. These are secondary ceilings attached to an existing roof. Expansion in the construction segment and rising call for recyclables will drive the development of the ceiling tiles market during the projection period.
Market drivers and restraints:
The world market is estimated to be driven by rising commercial construction activities like institutional buildings, office complexes, and healthcare facilities across the world. The increasing call for the product with changing customer lifestyle, increasing disposable income and demand for thermal and acoustic insulation, are estimated to drive the expansion in application businesses. Moreover, availability of innovative construction solutions which are durable and need low-maintenance is expected to impact the development favorably.
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Report segmented as:
• Mineral wood
By installation type:
• When installed
North America has 33.9% of the market share on the basis of revenue in 2018 due to the escalated adoption of products from application businesses. Technological breakthrough in this area as well as the increasing requirement for acoustic insulation has played a major role in escalated adoption of ceiling tiles in the region.
Important market players:
Major players operating in the global ceiling market are Owens Corning, Brass Monier Building Group, Etex, Saint-Gobain, Wienerberger AG, Beacon Roofing Supply, Inc., Atlas Roofing Corporation, Duro-Last, Inc., and Carlisle.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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